Allied Energy Corporation’s (OTCMKTS: AGYP) valuation skyrocketed as the independent energy driller saw Crude oil benchmarks Brent and WTI reach their highest levels since 2008.
A desperate US government is looking worldwide for more oil, from Iran to Argentina. But AGYP and other independent drillers are in their own backyard in Texas.
Put AGYP stock on your Watch List because energy is seen going far higher. Some analysts are predicting $150 or more per barrel if Russian oil is banned by the West.
Here Are The Catalysts For Investment In AGYP
— AGYP is transitioning to an established oil and gas producer and seller specializing in older commercial wells. It filed a production report with the Railroad Commission of Texas (RRC) documenting it pumped 738 barrels of oil in January. At $123 price per barrel, that represents a valuation of greater than $90,000.
— That total is only from one well and AGYP has hit oil from multiple wells. It has grown from an oil and gas exploration company into a driller and seller.
AGYP a $1 Million Annualized Oil Seller
— Annualized, this total represents 738 barrels of oil x 12 = 8,856. At last evening’s settled Brent Crude price of $123 per barrel, represents an exponential full year value of $1,089,288. The total is higher than $1 million.
— Earlier, AGYP tweeted it sold three loads of 160-170 barrels of oil so far in January from its Prometheus wells lease. AGYP continues to monitor production from its Well 1H in that location with the goal of increasing production.
— AGYP oil is scarce and jumping in value. Even conservative shale fracking drillers are reluctant to produce in an anti-fossil fuel environment politically. Meanwhile, the search for more oil is on worldwide.
— The tide has turned. Oil and gas drillers are now isolating anti-oil investors. Wall Street needs fossil fuel energy now.
Up List, Dual Exchange Listing Evaluated, Share Buyback Ahead
— AGYP has retained counsel as seeks an up list or a dual exchange listing. That means greater exposure to the international investment community.
— The Company is also considering a share buyback program to reduce its float. This is a perfect time to become an AGYP shareholder.
AGYP seeks an up list to a recognized North American exchange, excluding the U.S. OTC markets. These could include the Canadian TSX or Frankfurt Stock Exchange. The counselor is a specialist on dual exchange listings.
AGYP’s Increased Access To The Capital Markets Seen
It would offer AGYP greater access to the capital markets and more exposure to international energy investors.
Hired counsel will also advise AGYP on establishing an ongoing share buyback program of AGYP’s common stock. Acquisitions through private transactions will also be considered. More details on the share buyback program will be forthcoming, the company said.
CEO Bullish On AGYP’s Future In Hot Oil Market Globally
George Montieth, CEO of AGYP, says, “Now that Allied has moved from exploration status to production and oil sales, management believes it is time to initiate the move to a higher tier exchange and institute a share-buyback program.”
Put AGYP stock on your Watch List because it is very likely that energy prices of oil and gas will rise higher. As global prices spike in oil and gas, AGYP hits higher values for investors. Link to more news are at https://alliedengycorp.com/ and https://twitter.com/AlliedEnergyCo1
This article is part of a sponsored investor education program